The State Bank of Vietnam (SBV) has recently approved the conversion of the legal form of SHB Finance Company Limited (SHBFinance) from a multi-member limited liability company to a sole-member limited liability company.

This marks an important legal milestone, providing the basis for Saigon – Hanoi Commercial Joint Stock Bank (SHB) and Krungsri—one of Thailand’s leading financial groups and a member of Japan’s MUFG Group—to complete the procedures for the transfer of SHB’s remaining 50% equity interest in SHBFinance in accordance with the approved roadmap.

Following the SBV’s approval, the parties will proceed with the final procedures to complete the share transfer and settlement, to be finalized by mid-third quarter of 2026.

The completion of the transaction will not only mark the successful culmination of the strategic partnership between SHB and Krungsri, but will also represent an important milestone for SHB’s shareholders and investors. The capital surplus generated from the transaction is expected to further strengthen the Bank’s financial capacity, reinforce its capital base, create additional room for business expansion, accelerate its digital transformation, and enhance its competitiveness in the next phase of development.

SHB is about to realize a significant capital surplus from Krungsri transaction

Mr. Do Quang Vinh, Vice Chairman of the Board of Directors and Deputy Chief Executive Officer of SHB, shared: “The transfer of SHBFinance’s entire charter capital will generate a significant capital surplus for SHB’s shareholders while further strengthening the Bank’s financial capacity and market position. Upon completion of the transaction, SHB will continue its partnership with Krungsri to develop its retail banking business based on modern technology, convenient products, and advanced services. More importantly, SHB will focus its resources on its core business areas, accelerate its transformation and digitalization journey, unlock new growth opportunities, and advance its ambition of expanding to the international stage.”

The transaction was initiated in August 2021, when SHB and Krungsri signed an agreement for the transfer of 100% of SHBFinance’s charter capital in two phases. In May 2023, SHB completed the transfer of 50% of SHBFinance’s charter capital to Krungsri. At the same time, pursuant to the approval of the State Bank of Vietnam (SBV), SHBFinance was converted from a single-member limited liability finance company into a multi-member limited liability finance company. Under the original agreement, SHB was to transfer the remaining 50% equity interest in SHBFinance after three years. However, following a proposal from Krungsri, SHB announced on 5 November 2025 a Board resolution approving the early transfer of the remaining 50% equity interest, ahead of the original schedule.

Strengthening internal capabilities for the next phase of growth

With more than 160,000 shareholders, SHB is one of the most widely held banks in Vietnam. As one of the earliest banks to be listed on the Vietnamese stock market, SHB’s shares are included in the VN30 Index, comprising Vietnam’s largest listed companies by market capitalization, and consistently rank among the market’s most actively traded stocks. This reflects the Bank’s strong market appeal and investors’ growing confidence in its long-term growth prospects.

The completion of the transfer of SHB’s remaining equity interest in SHBFinance, together with the expected capital surplus from the transaction, will further strengthen the Bank’s financial foundation, enhance its capital capacity, and create additional room to accelerate digital transformation and develop its strategic business areas. It is also expected to enhance SHB’s attractiveness to both domestic and international investors, particularly as financial markets increasingly emphasize transparency, corporate governance, and capital adequacy.

In addition, SHB has recently completed the issuance of more than 750 million new shares, increasing its charter capital to VND 53.442 trillion. This will position the Bank among the top four private joint-stock commercial banks in Vietnam by charter capital, providing an important foundation for SHB to further expand its business scale, strengthen its competitiveness, and achieve its growth objectives in the years ahead.

SHB to be among Vietnam’s Top four largest private commercial banks

SHB’s corporate governance capabilities and investor relations practices have continued to gain market recognition. At the 2026 Annual General Meeting Awards, organized by CafeF and the Vietnam Institute of Directors (VIOD), SHB received two prestigious honors: “Most Impressive Annual General Meeting of the Year” and “Top 10 Outstanding Annual General Meetings 2026” in the large-cap category. These awards reaffirm the Bank’s commitment to transparency in information disclosure and the adoption of advanced corporate governance standards.

After 33 years of development, backed by a strong financial foundation, its position among the top five private commercial banks in Vietnam, and a comprehensive transformation journey, SHB is well positioned to accompany the country’s next stage of development, aiming towards achieving breakthrough growth and realizing its vision of becoming a leading regional financial institution with an expanding international presence.

By 2030, SHB aims to become the No. 1 bank in operational efficiency, a favorite digital bank, and the best retail bank in Vietnam. The Bank also aspires to be among the leading providers of financing, financial products, and services to strategic corporate customers across ecosystems, supply chains, value chains, and green development initiatives, as well as to small and medium-sized enterprises (SMEs) and individual customers. Looking ahead to 2035, SHB strives to become a leading modern, digital, and green bank in the region.

To achieve these goals, SHB is implementing a comprehensive transformation strategy built on four strategic pillars: Customer- and market-centricity; Reform of mechanisms, policies, regulations, and processes; People as the driving force; and IT modernization and digital transformation. Guiding this transformation are SHB’s six core values: Heart – Faith – Trustworthiness – Knowledge – Wisdom – Greater heights.

Alongside its transformation journey, SHB continues to invest heavily in technology, enhance its products and service quality, and expand its financial ecosystem for both corporate and individual customers. The Bank also continues to partner with major corporations, leading enterprises, key value chains of the economy, and national development programs.

SHB recently unveiled its new corporate brand identity, marking the beginning of the Bank’s next strategic phase of development. Inspired by the iconic S-shaped outline of Vietnam and the philosophy of “round sky, square earth,” the new identity not only preserves the nation’s cultural heritage but also embodies SHB’s commitment to innovation, technology, and international integration. It serves as a statement of the Bank’s comprehensive transformation as SHB advances toward its vision of becoming a new-generation bank of national significance, with aspirations to expand its presence across the region and onto the international stage.